BMW: buys digital parking app Parkmobile

(CercleFinance.com) - BMW has acquired Parkmobile, a US provider of digital parking solutions, in the latest example of the German carmaker pushing heavily into the most recent technologies.


The group did not disclose the acquisition price.

With the acquisition of Parkmobile, BMW says it can better address an "essential element" of urban mobility: parking solutions.

"Up to 30 percent of city traffic is caused by people looking for parking spaces," the auto group said in a statement.

Parkmobile mobile payment solution enables drivers to pay for parking directly from their smartphones, while offering access to gated facilities via in-app technology.

BMW said it has had a minority stake in Parkmobile since 2014 and has now acquired the Atlanta-based company with its workforce of over 100 employees.

Parkmobile offers its service in more than 300 US cities, including New York, Philadelphia and Phoenix.

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